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Find the value of a bond maturing in 5 years, with a $1,000 par value and a coupon interest rate of 14% (7% paid semiannually)

Find the value of a bond maturing in 5 years, with a $1,000 par value and a coupon interest rate of 14% (7% paid semiannually) if the required return on similar-risk bonds is 16% annual interest (8% paid semiannually).

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